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AQA A Level Economics Micro Year 1

This class was created by Brainscape user Charlie Kaye. Visit their profile to learn more about the creator.

By: Charlie Kaye
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Decks in this class (19)

Basic Economic Problem
What is the basic economic problem,
What are resources,
What are factors of production
10  cards
Production Possibility Frontiers
What does the ppf curve show,
What does the concave ppf represent,
What does a linear ppf show
12  cards
Demand And The Demand Curve
Demand definition,
What is the law of demand,
Based on the law of demand if pri...
11  cards
Supply And The Supply Curve
Supply definition,
What is the law of supply,
As price increases what happens t...
6  cards
Market Equilibrium And Disequilibrium
Free market definition,
What is equilibrium,
What is disequilibrium
9  cards
Consumer And Producer Surplus
What is consumer surplus,
Where is the consumer surplus found,
What does a price rise do to cons...
8  cards
Interrelated Markets
What is joint demand,
Example of joint demand,
If the price for razors increased...
11  cards
Indirect Tax
What are the reasons for indirect...,
What is a indirect tax,
What are the two types of indirec...
12  cards
Subsidy
What is a subsidy,
What are the aims of subsidies,
How does a subsidy affect the sup...
7  cards
Minimum Price
What is a minimum price,
What are the aims of a minimum price,
How does a minimum price affect p...
8  cards
Maximum Price
What is a maximum price,
What s the aim of maximum prices,
How does a maximum price affect p...
7  cards
Types Of Market Failure
What is market failure,
Why are negative positve consumpt...,
Why are demerit and merit goods o...
6  cards
Negative Externalities
What are negative production exte...,
Examples of negative production e...,
What will be greater in negative ...
9  cards
Positive Externalities
What are positive externalities i...,
Examples of positive externalities,
What is higher with positive cons...
8  cards
Merit And Demerit Goods
What are merit goods,
What causes merit goods to be und...,
What externalities do merit goods...
10  cards
Public Goods
What are features of pure public ...,
What does non excludable mean why,
What does non rival mean
8  cards
Regulation
What is regulation,
What type of approach is regulati...,
What is regulation not reliant on
8  cards
Perfect Competition
What are the characteristics of p...,
Where is the profit maximising point,
What profit is made in the long r...
8  cards
Monopoly
0  cards

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AQA A Level Economics Micro Year 1

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